Philippine Stock Exchange has approved the application of Philippine Realty and Holdings Corporation for the additional listing of common shares issued through a property-for-share swap deal.
Philrealty said that the exchange cleared the listing of 4.18 billion common shares, issued at a swap price of P0.54 per share, translating to a total transaction value of P2.26 billion. The shares were issued in favor of Greenhills Properties Inc. in exchange for two contiguous lots located in Bonifacio Global City, with a combined area of about 3,200 square meters.
The transaction allows Philippine Realty to acquire prime land in one of Metro Manila’s most sought-after business districts without immediate cash outlay, while expanding its development pipeline.
The approval remains subject to compliance with post-approval requirements set by the exchange, as well as any additional conditions that may be imposed by the Securities and Exchange Commission and the PSE.
Once completed, the share swap is expected to strengthen the company’s asset base and position it for future developments in BGC, a key commercial and mixed-use hub in the capital.
